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Shakti Pumps (India) has moved higher by 8% to Rs 703, surging 26% in past one week, on back of two-fold jump in trading volumes. A combined 1.09 million shares changed hands on the counter on the BSE and NSE till 12:50 pm. On comparison, the S&P BSE Sensex was trading 0.02% lower at 33,872.
In past one month, the market value of Shakti Pumps (India) zoomed 33% against 1.6% rise in the benchmark index. The company reported more than four-fold jump in its consolidated net profit at Rs 167 million in October-December quarter (Q3FY18). It had a profit of Rs 41 million in the same quarter year ago.
Dilip Buildcon hit a record high of Rs 1,217, up 3.8%, extending its 17% surge in past seven trading sessions after the company winning multiple orders from the National Highway Authority of India (NHAI). In past one month, the stock rallied 24% on the BSE.
Dilip Buildcon made market debut on August 11, 2016, has zoomed 456% from its issue price of Rs 219 per share. The company raised Rs 6,540 million through initial public offering attracted massive demand with the offer getting oversubscribed by around 21 times.
Despite the furious spike in the stock price, analysts at Dolat Capital reiterate BUY rating on the stock due to its differentiated business model, proven execution capability, growth trajectory coupled with improving financials.
Dilip Buildcon with its differentiated business model that lays on project selection and execution with operational efficiency continues to remain one of the prime beneficiaries of the government’s Bharatmala project (Rs 6.95 trillion), the brokerage firm said in recent report with a 12 month target price of Rs 1,423 on the stock.